More than 80 per cent Indians struggle to make ends meet; Survey

Coronavirus pandemic and the nationwide lockdown, no doubt, have badly impacted the people.  It has struck a blow into the financial health of the people. A recent survey disclosed that 82 per cent of Indians are struggling to make ends meet.

The survey by IndiaLends, a new age lending platform, said that majority of the people are thinking of taking personal lands to tide over the financial situation.

The survey held among 5000 people said that 94 per cent of the respondents said that they have to be careful on spending their money in the next few months. Eighty four per cent of the people said that they are cutting back on spending and 90 per cent were concerned about their savings and financial future.

The survey report revealed that 72 per cent of the people said they would go for a personal loan for meeting their immediate expenses such as debt repayment, home repairs, education fees and medical expenses.

The survey noted that 76 per cent of the people were not in a position for new investments. It also said that 70 per cent of the people agreed to spend less on non-essentials, including luxury and entertainment. IndiaLends founder and CEO Gaurav Chopra was quoted as saying that individuals have to examine financial options and plan accordingly for the days ahead.

 

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